Melrose Industries (LON:MRO) Shares Down 11.3% – Here’s What Happened

Shares of Melrose Industries PLC (LON:MRO) were down 11.3% on Thursday . The company traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). Approximately 16,228,400 shares traded hands during mid-day trading, an increase of 72% from the average daily volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 850 ($10.99) target price on shares of Melrose Industries in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.27).

Melrose Industries Stock Performance

The business’s fifty day moving average is GBX 597.55 and its two-hundred day moving average is GBX 531.47. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The stock has a market capitalization of £6.35 billion, a PE ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last posted its quarterly earnings data on Thursday, March 6th. The company reported GBX 26.80 ($0.35) EPS for the quarter. Melrose Industries had a negative net margin of 1.13% and a negative return on equity of 1.18%. As a group, research analysts anticipate that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insiders Place Their Bets

In other Melrose Industries news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction on Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total transaction of £44,997 ($58,158.20). 1.00% of the stock is owned by insiders.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.